City

Education is realty

Educational institutes crowd PMC’s property taxpayers list, proving it pays to teach

Siddharth Gadkari

Posted On Tuesday, January 05, 2010 at 11:19:49 PM

Bharati Vidyapeeth is top property tax payer in residential category

It seems in the Oxford of the East, a chunk of the money lies in the educational sector.

Educational institutes, and the ‘forces’ behind these properties, are the new realty in Pune, with colleges paying the highest amounts of property tax to the Pune Municipal Corporation (PMC).

The civic body prepared a list of the top ten property tax payers in the city, as demanded by the Income Tax (I-T) Department. The list is divided into two categories — residential and commercial.

And six educational institutes figure in the top 10 property tax payers in the residential category, with an aggregate payment of Rs 26,38,936. Whereas the top six commercial payers have added a cool Rs 98,18,280 in 2008-09 to the PMC coffers.

Bharati Vidyapeeth in Katraj, run by State Forest Minister Patangrao Kadam, leads the list in the residential category with a payment of Rs 11,38,962 for all its properties.

Eagle Sales and System, India, which is based in Hadapsar, is the topmost payer in the commercial category with Rs 25,12,101.

Next in the list of top payers in the residential category is Sinhagad Technical Education Society, which is run by S N Navale in Wadgaon Budruk, with a payout of Rs 4,93,856. Sadhana Vidyalaya in Hadapsar comes in third with Rs 3,47,138.

The PMC charges a different rate of property tax from educational institutes, as they fall under the residential category.

The commercial rates are higher than the rates for residential category. The total property tax received by PMC from residential properties amounts to Rs 36,12,606, while the amount for commercial properties is Rs 1,40,17,522.

Vilas Kanade, PMC tax assessment and collection officer, said the list of top 10 tax payers in the city for the year 2008-09 was prepared as per the demand from the Income Tax department.

Commercial category